First it was $250 thousand to avoid tax increases, then it was under $200 thousand for a tax cut, then it was under $150 thousand. Obama and Biden’s definition of the middle class keeps changing, and their words keep shifting about their tax plan. Even Hillary called out Obama for his idea to lift the cap on the Social Security tax, which would hit the middle class even more. In the video below, you can hear Obama’s various definitions of middle and upper class, and who will see tax increases, which now sounds like everyone.
Governor Bill Richardson may have spoiled the secret, saying this week that people making under $120 thousand will receive a tax cut. How low can the bar go?
In a 2007 interview, Obama tapped into his inner Jimmy Carter, saying the government needs to send price signals to the energy market. Last time the government attempted to control energy prices, oil production decreased, lower prices induced higher consumption, more oil had to be purchased from overseas, and there were lines at the gas stations to fill up at the pump.
In this interview, Obama recognizes that regulation of energy prices will result in higher costs to consumers. He basically repeats Carter’s guidance to use less energy in our homes. His recognition of the consequences of increased costs suggests he knows his tax increases on the “wealthy” and on businesses will be passed on to consumers as well.
Obama’s economic plan has been inconsistent and misleading, but one thing is certain: we’re all going to take a hit, either through higher taxes or higher costs passed down from those higher taxes. Obama knows this, and he wants it anyway.
UPDATE: The RNC has a new ad that compiles the same clips and makes the point that Obama is all about change:
